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20121120
Search Results 0 to 7 of about 8 (some duplicates have been removed)
of certain deductions and tax loopholes that benefit the wealthy. speaker of the house john boehner emphasized that hiking taxes on these wealthy americans will hurt the very people who create the jobs. >> we are not going to hurt our economy and make job creation more difficult, which is exactly what that plan would do. >> barack obama has made his clearest demand since winning reelection. taxes on the wealthiest of american citizens must go up. he says the country could suffer a, quote unquote, rude shock if there is too much stubbornness in congress over his agenda and nothing gets done. >> step number one that we can take in the next couple of weeks, provide certainty to middle-class families, 98% of families who make less than $250,000 a year, 97% of small businesses, that their taxes will not go up a single next year. give them that certainty right now. we can get that done. >> question, who will blink first? how will this be resolved? paul. >> both sides have an incentive, even though they're saying the opposite to wait until after the first of the year. after the first of th
year. that came after talks broan down between the president and house speaker john boehner. senator collins told the newshour today that she's optimistic lawmakers can still strike a deal and stave off the spending cuts. >> so this has to be done carefully. i think the president's right that -- and i've said this for a long time -- that we have to look at both revenues and spending. but there needs to be compromise on both sides. >> woodruff: but mcconnell said the president needs to put a proposal on the table if any agreement is going to pass. >> the time for the president to lead is now. that means offering a concrete plan that takes into account the fact that half the congo poses tax hikes. >> woodruff: on the democratic side house minority leader nancy pelosi rejected calls by some in the party who have argued for letting the country go over the cliff to get a better deal. >> i want you to be disabused of any notion that there's any widespread thought that it would be a good as a country for us to go over the cliff. we want an agreement. we want an agreement. >> woodruff: law m
. house speaker john boehner called the meeting very constructive. >> i outlined a framework that deals with reforming our tax code and reforming our spending. and i believe the framework that i've outlined in our meeting today is consistent with the president's call for a fair and balanced approach. >> reporter: to republican leaders balance means some higher tax revenues are paired with reductions in spending and changes in entitlement programs. that's a challenge for democrats, but the president seemed willing to move in that direction. >> our challenge is to make sure that we are able to cooperate together, work together, find some common ground, make some tough compromises, build some consensus to do the peoples business. and what folks are looking for-- and i think all of us agree on this-- is action. >> reporter: speaker pelosi suggested the leaders agree on milestones that will bolster the economy. >> we should have a goal in terms of how much deficit reduction. we should have a deadline before christmas. we should show some milestones of success so that confidence can build as
a tax increase. if speaker boehner says i'll go along with that, that's where we'll start. i think the conversation is under way for a solution. >> ifill: senator durban, are you kicking the can down the road by only talking about the tax ruts and not talking about the spending cuts as well? >> let me tell you something, i was on the bowles simpson commission, i voted for it, bipartisan commission that included spending cuts as well as revenue increases. i know that to reach four or five trillion dollars in deficit reduction you need to put everything on the table. not just taxes for the wealthy. that's an important piece of it, but it isn't all of it. you need much more. >> the president said today in his news conference that he was very familiar with the literature on the overreach of presidents in their second term or their potential for overreach. do you think that's a possibility here? do you see that? we have heard, for instance, republicans say, hey, we can talk about immigration now. is it possible that some things actually are in reach? >> oh, i do think -- i think immigra
more in taxes. and house speaker john boehner said republicans are willing to offer higher tax revenue as part of a deal. >> to show our seriousness we've put revenue on the table, as long as it's accompanied by significant spending cuts. and while we're going to continue to have revenue on the table, it's going to be incumbent for my colleagues to show the american people that we're serious about cutting spending and solving our fiscal dilemma. >> holman: on the democratic side, senate majority leader reid promised work will continue on a deal over the thanksgiving recess. he said, "we all know something has to be done." wall street took some hope from that white house meeting. the dow jones industrial average gained nearly 46 points to close at 12,588. the nasdaq rose 16 points to close at 2,853. but for the week, the dow and the nasdaq fell nearly 2%. also today, j.p. morgan chase and credit suisse agreed to pay $417 million in a federal civil settlement. they allegedly sold mortgage bonds they knew could fail before the 2008 financial crisis. it looks like twilight for twinkies. ho
engaged and motivated to keep making the case. now, i do think that speaker boehner did say that he was open to new revenue, it is an open question about how many folks in this caucus will be. there are a lot of republicans, tom coburn, the rock-ribbed conservative senator from oklahoma has also been very open about it. so i think that you are seeing some people who are very firmly on the political right who are saying that, "look, we're willing to give an inch on revenues if we can also make some reforms on the spending side." >> i think we're missing the point when we look at the political parties. we should keep our eye on what's happening to working families. and working families have been hurting since at least the 1970s. and they've been hanging on by, you know, one manner or another that is really not fundamental. the fundamental way families make money is through work and savings and buying a home and accumulating wealth. but what's been happening is that first you had wives and mothers that went into the workforce. now, ultimately this was a good thing for women to be in th
Search Results 0 to 7 of about 8 (some duplicates have been removed)